2000 Minnesota Statutes

     79.371 Funds for the state fund mutual insurance company.

    Subdivision 1.    Association obligation.  The 
 reinsurance association shall, no later than July 1, 1993, make 
 funds available to the state fund mutual insurance company in 
 the amount of $20,000,000 according to terms and conditions 
 approved by the commissioner.  The obligation to make these 
 funds available supersedes any inconsistent requirements of this 
 chapter, the bylaws or plan of operation of the association, or 
 duty or obligation imposed upon the board. 

    Subd. 2.    Personal liability; excluded.  The members 
 of the board and officers or employees of the association are 
 not liable personally, either jointly or severally, for the 
 obligation created by this section. 

    Subd. 3.    State and special compensation fund 
 obligation.  The obligation of the state fund mutual to the 
 state of Minnesota pursuant to section 176A.11 and any 
 obligations to the special compensation fund for claims incurred 
 prior to the effective date of the obligation created pursuant 
 to section 79.371 shall be subordinate to that obligation.  In 
 the event of the insolvency of the state fund mutual the 
 obligation to the workers' compensation reinsurance association 
 created pursuant to section 79.371 shall be satisfied in full 
 before any payments are made to satisfy the obligations to the 
 state or the special compensation fund. 

    HIST: 1993 c 228 s 1 

*   NOTE:  This section, as added by Laws 1993, chapter 288, 
*section 1, is repealed effective March 1, 2009.  Laws 1993, 
*chapter 228, section 4.